Mar 31, 2014
Dear Members
The Directors are pleased to present their 27th Annual Report together
with the audited accounts of the Company for the year ended on 31st
March 2014 along with the Report of the Auditors thereon.
FINANCIAL RESULTS
Year Ended Year Ended
31st March ,2014 31st March ,2014
(Rs. In Lacs) (Rs. In Lacs)
Turnover 0 0
Other Income 1.39 1.18
Profit / (Loss) before 0.6 .16
Depreciation
Less: Depriciation
Income Tax Earlier Years
Net profit(Loss) For the year .06 .16
DIVIDEND
There is no distributable profit for the year so your Directors do not
recommended any dividend for the year.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Management discussion & analysis report , as required under the listing
agreement with the Stock Exchanges is enclosed at Annexure ''A''.
PUBLIC DEPOSITS
During the year under review the company has neither accepted nor
invited any public deposits within the meaning of section 73 of the
companies Act, 2013 read with the companies (Acceptance Of Deposits)
rules2014. Also there are no outstanding Public Deposits.
OPERATION
The management has suspend the production from April, 1998 because of
the actual financial crisis and liquidity crunch which compelled the
management to retrench the workers and the staff and surrender the
power, connection. The production has not been resuming during the
year.
DIRECTOR
In accordance with the provisions of the Companies Act, 2013 and
Articles of Association of the Company, Mr. Sangeeta Neema ,the
Director of the Company retires by rotation at the forthcoming Annual
General Meeting and being eligible, offers herself for re-appointment.
In accordance with Section 149 and other applicable provisions of the
Companies Act, 2013, your directors Mr. Indra Kumar Mahajan and Mr.
Bharat Kumar Neema (Already existing Independent non executive Director
and retired by rotation offer himself for the same) are seeking
appointment as Independent Director for a term of five consecutive
years upto September 30th, 2019.Details of the proposal for the
appointment of Mr. Indra Kumar Mahajan and Mr. Bharat Neema l are
mentioned in the Explanatory Statement under Section 102 of the
Companies Act 2013 of the Notice of the 27th Annual General Meeting.
DIRECTOR''S RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956, the director
to the best of their knowledge and belief confirm that:
i) In the preparation of the annual accounts, the applicable accounting
standards have been followed along with the proper explanation relating
to material departures.
ii) The Directors have selected such accounting policies and applied
them consistently and have made judgments and estimates that are
reasonable and prudent so as to give true and fair view of the state of
affairs of the Company as at the end of the financial year ended 31st
March 2014 and of the profit/loss of the Company for that period.
iii) The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities.
iv) The Directors have prepared the annual accounts for the year ended
31st March 2014 on as a going concern basis.
GREEN INITIATIVE:
The Ministry of Corporate Affairs has taken the Green initiative in
Corporate Governance by allowing paperless compliances by Companies
through electronic mode. The Company supports the Green initiative and
has accordingly decided to send all communications to its shareholders
to their respective registered e- mail addresses. Hence, the Company
appeals to its shareholders who are yet to register their e-mail
addresses that they take necessary steps for registering same so that
they can also become a part of the initiative and contribute towards a
Greener environment.
Auditors And Auditors Report:
M/s. S.N. Kabra & Co, Chartered Accountants, the statutory auditors of
the Company, hold office till the conclusion of the forthcoming AGM and
are eligible for re-appointment. Pursuant to the provisions of section
139 of the Companies Act, 2013 and the Rules framed thereunder, it is
proposed to appoint M/s. S.N. Kabra & Co. as statutory auditors of the
Company from the conclusion of the forthcoming AGM till the conclusion
of the thirtieth AGM to be held in the year 2017, subject to
ratification of their appointment at every AGM.
The Notes on Accounts referred to in the Auditor Report are self
explanatory and there fore do not call of any further comments.
COMPLIANCECERTIFICATE:
In the terms of the provisions of Section 3 83A of the Companies Act,
1956, Compliance Certificate from M/s K.G. Mujawadia & Associates ,
Company Secretaries, 410, Ashirwad Appartment, 37 Kailash Park
ColonyNear Gita Bhawan, Indore . The report being self explanatory
needs no comments.
PARTICULARS OF EMPLOYEES
There was no employee during the period drawing remuneration attracting
the provisions of section 217(2A) of the Companies Act,1956 read with
the Companies(Particulars Of Employees) Rules,1975.
CORPORATE GOVERNANCE
Your Company is committed to maintain the highest standards of
Corporate Governance and endeavors to maximuisze the wealth of
shareholders by managing the affairs of the company with a pre-eminent
level of accoumabiilty, transparency and integrity.
A report on Coiporate Governance as required under clause 49 of the
Listing Agreement is attached.
LISTING AT STOCK EXCHANGES.
The equity shares of the company continue to be listed at Bombay Stock
Exchange Ltd. (BSE) and Madhya Pradesh Stock Exchange (MPSE), Indore
and ASE. The Company has paid the annual Listing Fee for the financial
year 2013-14 to Bombay Stock Exchange Ltd.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
The Company has suspended production since April 1998, hence statement
in accordance with the provision 271(1) (e) of the companies Act, 1956
read with the Companies (Disclosure of particulars in the report of
board of directors) Rules 1988; regarding conservation of energy is not
furnished.
FORIGN EXCHANGE EARNINGS AND OUTGO
There is no exchange earnings and Outgo during the year.
AUDIT COMMITTEE
As per the provisions of the Companies Act, 2013 and amended Listing
Agreement with the Stock Exchanges, the Audit Committee of the company
comprised of two non-executive independent Directors. Further, Chairman
of the Audit Committee is an independent Director.
Name Of Directors Categories
Mrs. Sangeeta Neema Women Director
Mr. Bharat Neema (Chairman) Non-Executive & Independent
Director
Mr. Ritesh Jain Whole Time Director & Executive
Director
Mr. Jaikishan Neema Non-Executive & Independent
Director
EMPLOYEES PARTICULARS
During the year there were no employee drawing remuneration in excess
of ceiling provided Under Section 217 (2A) of the Companies Act, 1956
read with the Companies (Particulars of Employees) Rules 1975, hence
prescribed particulars have not been furnished.
PERSONNEL
The workers and the staff of the Company have been retrenched since
June 1998 due to acute financial crisis and there are no workers or the
staff members on the Company''s payroll.
ACKNOWLEDGEMENT
Your Directors acknowledge with thanks the faith reposed by the
shareholders in the company and look forward to their continued support
from time to time.
For and on be half-of the Board
Place: Indore SHABA CHEMICALSLIMITED
Date: 11.05.2014
Mr. Ricesh Jain
(W T Director)
Sd/-
Mrs. Sangeeta Neema
(Director)
Sd/-
Mar 31, 2013
To, The Members of SHABA CHEMICALS LIMITED
The Directors are pleased to present their 26th Annual Report together
with the audited accounts of the Company for the year ended on 31st
March 2012 along with the Report of the Auditors thereon.
FINANCIAL RESULTS
Year Ended Year Ended
31st March,
2013 31st March,
2012
(Rs. In Lacs)(Rs. In Lacs)
Turnover 0 29.74
Other Income 1.18 1.12
Profit / (Loss) before .16 .09
Depreciation
Less: Depriciation
Income Tax Earlier Years
Net profit(Loss) For the year .16 .09
DIVIDEND
There is no distributable profit for the year so your Directors do not
recommended any dividend for the year.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Management discussion & analysis report , as required under the listing
agreement with the Stock Exchanges is enclosed at Annexure ÂAÂ.
PUBLIC DEPOSITS
During the year under review the company has neither accepted nor
invited any public deposits within the meaning of section 58A of the
companies Act, 1956 rea with companies (Acceptance Of Deposits)
rules1975. Managing also there are no outstanding Public Deposits.
OPERATION
The management has suspend the production from April, 1998 because of
the actual financial crisis and liquidity crunch which compelled the
management to retrench the workers and the staff and surrender the
power, connection. The production has not been resuming during the
year.
DIRECTOR
Mr. Rajkumar Jain Director of the Company retires by rotation at the
ensuing Annual General Meeting and Mr. Bharat Neema (Chartered
Accountant) proposed to be appointed as Director in forthcoming Annual
General Meeting.
DIRECTORÂS RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956, the director
to the best of their knowledge and belief confirm that:
i) In the preparation of the annual accounts, the applicable accounting
standards have been followed along with the proper explanation relating
to material departures.
ii) The Directors have selected such accounting policies and applied
them consistently and have made judgments and estimates that are
reasonable and prudent so as to give true and fair view of the state of
affairs of the Company as at the end of the financial year ended 31st
March 2013 and of the profit/loss of the Company for that period.
iii) The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities.
iv) The Directors have prepared the annual accounts for the year ended
31st March 2013 on as a going concern basis.
GREEN INITIATIVE:
The Ministry of Corporate Affairs has taken the Green initiative in
Corporate Governance by allowing paperless compliances by Companies
through electronic mode. The Company supports the Green initiative and
has accordingly decided to send all communications to its shareholders
to their respective registered e- mail addresses. Hence, the Company
appeals to its shareholders who are yet to register their e-mail
addresses that they take necessary steps for registering same so that
they can also become a part of the initiative and contribute towards a
Greener environment.
Auditors And Auditors Report:
M/s. S.N. Kabra & Co., Chartered Accountants are statutory auditors of
the Company for the financial year 2012-13. The Board of Directors of
the Company has decided that the appointment of statutory auditors
should be done on a rotational basis.
The Notes on Accounts referred to in the Auditors Report are self
explanatory and therefore do not call for any further comments.
COMPLIANCECERTIFICATE:
In the terms of the provisions of Section 383A of the Companies Act,
1956, Compliance Certificate from M/s K.G. Mujawadia & Associates ,
Company Secretaries, 410, Ashirwad Appartment, 37 Kailash Park
ColonyNear Gita Bhawan, Indore . The report being self explanatory
needs no comments.
PARTICULARS OF EMPLOYEES
There was no employee during the period drawing remuneration attracting
the provisions of section 217(2A) of the Companoies Act,1956 read with
the Companies(Particulars Of Employees) Rules,1975.
CORPORATE GOVERNANCE
Your Company is committed to maintain the highest standards of
Corporate Governance and endeavors to maximize the wealth of
shareholders by managing the affairs of the company with a pre-eminent
level of accountability, transparency and integrity. A report on
Corporate Governance as required under clause 49 of the Listing
Agreement is attached.
LISTING AT STOCK EXCHANGES:
The equity shares of the company continue to be listed at Bombay Stock
Exchange Ltd. (BSE) and Madhya Pradesh Stock Exchange (MPSE), Indore.
The Company has paid the annual Listing Fee for the financial year
2012-13 to Bombay Stock Exchange Ltd.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
The Company has suspended production since April 1998, hence statement
in accordance with the provision 271(1) (e) of the companies Act, 1956
read with the Companies (Disclosure of particulars in the report of
board of directors) Rules 1988; regarding conservation of energy is not
furnished.
FORIGN EXCHANGE EARNINGS AND OUTGO
There is no exchange earnings and Outgo during the year.
AUDIT COMMITTEE
As per the provision of the companies act,1956 and Listing Agreement
with the stock Exchange, The Audit Committee of the Company is
comprised of two Non-executive DirectorÂs
Name Of Directors Categories
Mrs. Sangeeta Neema (Chairman) Non-Executive & Independent Director
Mr. Rajkumar Jain Non-Executive & Independent Director
Mr. Ritesh Jain Whole Time Director & Executive Director
As per the provisions of the Companies Act,1956 and amended Listing
Agreement with the Stock Exchanges, the Audit Committee of the Company
comprised of two nonexecutive Independent Directors. Further, Chairman
of the Audit committee is an Independent Director.
EMPLOYEES PARTICULARS
During the year there were no employee drawing remuneration in excess
of ceiling provided Under Section 217 (2A) of the Companies Act, 1956
read with the Companies (Particulars of Employees) Rules 1975, hence
prescribed particulars have not been furnished.
PERSONNEL
The workers and the staff of the Company have been retrenched since
June 1998 due to acute financial crisis and there are no workers or the
staff members on the CompanyÂs payroll.
ACKNOWLEDGEMENT
Your Directors acknowledge with thanks the faith reposed by the
shareholders in the company and look forward to their continued support
from time to time.
For and on behalf of the Board
Place: Indore SHABA CHEMICALS LIMITED
Date: 07.08.2013
Mr. Ritesh Jain (W T Director)
Sd/-
Mrs. Sangeeta Neema (Director)
Sd/-
Mar 31, 2011
To The Members of SHABA CHEMICALS LIMITED
The Directors are pleased to present their 24th Annual Report together
with the audited accounts of the Company for the year ended on 31st
March 2011 along with the Report of the Auditors thereon.
FINANCIAL RESULTS
Year Ended Year Ended
31st March,11 31st March,10
(Rs. In Lacs) (Rs. In Lacs)
Turnover 63.63 71.88
Profit / (Loss) before
Depreciation .09 .23
Less: Depreciation -- ---
Income Tax earlier Years -- --
Net Profit/ (Loss) for the year .09 .23
DIVIDEND
There is no distributable profit for the year so your Directors do not
recommended any dividend for the year.
OPERATION
The management has suspend the production from April, 1998 because of
the actual financial crisis and liquidity crunch which compelled the
management to retrench the workers and the staff and surrender the
power, connection. The production has not been resume during the year.
Moreover company has trading of commodities during the year and
exploring business in this area.
DIRECTOR
Mrs. Sangeeta Neema Director of the Company retires by rotation at the
ensuing Annual General Meeting and his replacement is being sought.
DIRECTOR'S RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956, the director
to the best of their knowledge and belief confirm that:
i) In the preparation of the annual accounts, the applicable accounting
standards have been followed along with the proper explanation relating
to material departures.
ii) The Directors have selected such accounting policies and applied
them consistently and have made judgments and estimates that are
reasonable and prudent so as to give true and fair view of the state of
affairs of the Company as at the end of the financial year ended 31st
March 2011 and of the profit/loss of the Company for that period.
iii) The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities.
iv) The Directors have prepared the annual accounts for the year ended
31st March 2011 on as a going concern basis.
AUDITOR
M/S S. N. Kabra & Co. Chartered Accountants, give resigned from the
post of Statutory Auditor of the company, and M/S S. N. Kabra & Co.
Chartered Accountants appointed Statutory Auditors of the Company.
CORPORATE GOVERNANCE
A report on Corporate Governance as required under clause 49 of the
Listing Agreement is attached.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
The Company has suspended production since April 1998, hence statement
in accordance with the provision 271(1) (e) of the companies Act, 1956
read with the Companies (Disclosure of particulars in the report of
board of directors) Rules 1988; regarding conservation of energy is not
furnished.
EMPLOYEES PARTICULARS
During the year there were no employee drawing remuneration in excess
of ceiling provided Under Section 217 (2A) of the Companies Act, 1956
read with the Companies (Particulars of Employees) Rules 1975, hence
prescribed particulars have not been furnished.
PERSONNEL
The workers and the staff of the Company have been retrenched since
June 1998 due to acute financial crisis and there are no workers or the
staff members on the Company's payroll.
ACKNOWLEDGEMENT
Your Directors acknowledge with thanks the faith reposed by the
shareholders in the company and look forward to their continued support
from time to time
For and on behalf of the Board
Place: Indore SHABA CHEMICALS LIMITED
Date : 11.05.2011
Mr. Ritesh Jain
(W T Director)
Sd/-
Mr. Rajkumar Jain
(Director)
Mar 31, 2010
The Directors are pleased to present their 23rd Annual Report together
with the audited accounts of the Company for the year ended on 31st
March 2010 along with the Report of the Auditors thereon.
FINANCIAL RESULTS
Year Ended Year Ended
31st March, 10 31st March. 09
(Rs. In Lacs) (Rs. In Lacs)
Turnover 71.88 26.30
Profit / (Loss) before Depreciation .23 .42
Less: Depreciation - -
Income Tax earlier Years - -
Net Profit/ (Loss) for the year .23 .42
DIVIDEND
There is no distributable profit for the year so your Directors do not
recommended any dividend for the year.
OPERATION
The management has suspend the production from April. 1998 because of
the actual financial crisis and liquidity crunch which compelled the
management to retrench the workers and the staff and surrender the
power, connection. The production has not been resume during the year.
Moreover company has trading of commodities during the year and
exploring business in this area.
DIRECTOR
Shri Rajkumar Jain Director of the Company retires by rotation at the
ensuing Annual General Meeting and his replacement is being sought.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act. 1956. the director
to the best of their knowledge and belief confirm that:
i) In the preparation of the annua] accounts, the applicable accounting
standards have been followed along with the proper explanation relating
to material departures.
ii) The Directors have selected such accounting policies and applied
them consistently and have made judgments and estimates that are
reasonable and prudent so as to give true and fair view of the state of
affairs of the Company as at the end of the financial year ended 31st
March 2010 and of the profit/loss of the Company for that period.
iii) The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act. 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities.
iv) The Directors have prepared the annual accounts for the year ended
31st March 2010 on as a going concern basis.
AUDITOR
M/S S. N. Kabra & Co. Chartered Accountants, give resigned from the
post of Statutory Auditor of the company, and M/S S. N. Kabra & Co.
Chartered Accountants appointed Statutory Auditors of the Company.
CORPORATE GOVERNANCE
A report on Corporate Governance as required under clause 49 of the
Listing Agreement is attached.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
The Company has suspended production since April 1998. hence statement
in accordance with the provision 271(1) (e) of the companies Act. 1956
read with the Companies (Disclosure of particulars in the report of
board of directors) Rules 1988: regarding conservation of energy is not
furnished.
EMPLOYEES PARTICULARS
During the year there were no employee drawing remuneration in excess
of ceiling provided Under Section 217 (2A) of the Companies Act. 1956
read with the Companies (Particulars of Employees) Rules 1975, hence
prescribed particulars have not been furnished.
PERSONNEL
The workers and the staff of the Company have been retrenched since
June 1998 due to acute financial crisis and there are no workers or the
staff members on the Companys payroll.
ACKNOWLEDGEMENT
Your Directors acknowledge with thanks the faith reposed by the
shareholders in the company and look forward to their continued support
from time to time
For and on behalf of the Board
SHABA CHEMICALS LIMITED
Mr. Ritesh Jain
(W T Director)
Sd/-
Mr. Rajkumar Jain
(dIRECTOR)
Sd/-
Place: Indore
Date: 27.06.2010
Mar 31, 2009
The Directors are pleased to present their 22 Annual Report together
with the audited accounts of the Company for the year ended on 31st
March 2009 along with the Report of the Auditors thereon.
FINANCIAL RESULTS
Year Ended Year Ended
31 st March, 09 31 st March, 08
(Rs. In Lacs) (Rs. In Lacs)
Turnover 26.30 26.90
Profit / (Loss) before Depreciation 0.42 0.06
Less: Depreciation
Income Tax earlier Years
Net Profit/(Loss) for the year 0.42 0.06
DIVIDEND
There is no distributable profit for the year so your Directors do not
recommended any dividend for the year.
OPERATION
The management has suspend the production from April, 1998 because of
the actual financial crisis and liquidity crunch which compelled the
management to retrench the workers and the staff and surrender the
power, connection. The production has not been resume during the ^ear
Moreover company has trading of commodities during the year and
exploring business in this area.
DIRECTOR
Mrs. Sangeeta Neema Director of the Company retires by rotation at the
ensuing Annual General -Meeting and his replacement is being sought.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to Section 217(2AA) of the Companies Act, 1956, the director
to the best of their knowledge and belief confirm that:
i) In the preparation of the annual accounts, the applicable accounting
standards have been followed along with the propervexplanation relating
to material departures.
ii) The Directors have selected such accounting policies and applied
them consistently and have made judgments and estimates that are
reasonable and prudent so as to give true and fair view of the state of
affairs of the Company as at the end of the financial year ended 31st
March 2009 and of the profit/loss of the Company for that period.
iii) The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities.
iv) The Directors have prepared the annual accounts for the year ended
31st March 2009 on as a going concern basis.
AUDITOR
M/S S. N. Kabra & Co. Chartered Accountants, give resigned from the
post of Statutory Auditor of the company, and M/S JSL N. Kabra & Co.
Chartered Accountants appointed Statutory Auditors of the Company.
CORPORATE GOVERNANCE
A report on Corporate Governance as required under clause 49 of the
Listing Agreement is attached.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
The Company has suspended production since April 1998, hence statement
in accordance with the provision 271(1) (e) of the companies Act, 1956
read with the Companies (Disclosure of particulars in the report of
board of directors) Rules 1988, regarding conservation of energy is nor
furnished.
EMPLOYEES PARTICULARS
During the year there were no employee drawing remuneration in excess
of ceiling provided Under Section 217 (2A) of the Companies Act, 1956
read with the Companies (Particulars of Employees) Rules 1975, hence
prescribed particulars have not been furnished.
PERSONNEL
The workers and the staff of the Company have been retrenched since
June 1998 due to acute financial crisis and there are no workers or the
staff members on the Companys payroll.
ACKNOWLEDGEMENT
Your Directors acknowledge with thanks the faith reposed by the
shareholders in the company and look forward to their continued support
from time to time
For and on behalf of the Board
Place: Indore SHABA CHEMICALS LIMITED
Date: 27.06.2009
Mr. Ritesh Jain
(Director)
Mr. Rajkumar Jain
(Director)